Court : Rajasthan
Decided on : Apr-25-1996
Reported in : [1997]227ITR698(Raj)
..... , or incidental to, the execution of any contract for the supply outside india of such goods, services or facilities, and . . ,' explanation 2 was also inserted by the finance act, 1973, retrospectively with effect from april 1, 1968, which reads as under :-- ' explanation 2.-for the purposes of sub-clause (iii) and sub-clause (viii) of clause (b) expenditure incurred by an assessee engaged ..... to the crew, passengers or livestock) shall not be regarded as expenditure incurred by the assessee on the supply outside india of services or facilities.' 3. sub-clause (iii) of section 35b refers to any expenditure on supply or provision outside india of goods, services or facilities. explanation 2 has circumscribed the ambit of exemption that it must not be pertaining .....
Tag this Judgment!Court : Supreme Court of India
Decided on : Jan-03-1996
Reported in : 1996IAD(SC)734; AIR1996SC960; I(1996)BC478(SC); [1996]87CompCas589(SC); [1996]218ITR140(SC); JT1996(1)SC1; 1996(1)SCALE57; (1996)1SCC683; [1996]1SCR31
..... immediately before such amalgamation, financially viable and the amalgamation was in public interest. the expression 'financial non-viability' has not been defined in the act but the finance minister's speech, the notes on clauses of the bill and the memorandum explaining the provisions thereof make it clear that the financial non-viability ..... company, the bench acceded to the request of the company to allow the amalgamation of the two companies but without granting any benefits under section 72a of the income tax act.' the operating agency was, accordingly, directed to submit a revised draft rehabilitation-cum-merger scheme.6. on 2nd april, 1992, the ..... ; and(c) such other conditions as the central government may, by notification in the official gazette, specify, to ensure that the benefit under this section is restricted to amalgamation which would facilitate the rehabilitation or revival of the business of the amalgamating company,then, the central government may make a declaration to .....
Tag this Judgment!Court : Madhya Pradesh
Decided on : Jan-03-1996
Reported in : 1997CriLJ1846
..... had no material at the stage when additional charge was framed that the prosecutrix belonged to scheduled casts or scheduled tribe and the charge framed under section 3(1)(xi) of the act was uncalled for, improper and against the provisions of law.4. after hearing learned counsel for the applicants, learned counsel for the state and perusal ..... been made by the trial court and only then, after recording a finding that the prosecutrix had become a member of scheduled caste, the charge under section 3(1)(xi) of the act could have been framed. without adopting the proper procedure, the trial court simply jumped over the matter, assming the fact and presuming the prosecutrix to ..... shall certainly vitiate the entire proceeding. therefore, this revision petition is allowed. the impugned order dated 8-1-1994 and the additional charge framed under section 3(1)(xi) of the act are hereby quashed.8. it is directed that the trial cout shall proceed with the trial from where it was left over on 8-1 -1994 .....
Tag this Judgment!Court : Madhya Pradesh
Decided on : Jan-03-1996
Reported in : (1996)133CTR(MP)410; [1996]219ITR441(MP)
..... was already with the assessing officer at the time of making the original assessment also provides jurisdiction to the assessing officer to reassess the income under section 147(b) of the act.12. shri tankha, learned counsel for the revenue, invited our attention to the latest decision of the supreme court in phool chand bajrang lalv. ..... loan to bring into books of account black money and it never gave any loan to the assessee and after cross-examining the managing director of the finance company on his confession to this effect, proceedings were initiated by the income-tax officer concerned for reopening the assessment on the ground of income escaped ..... newspaper society v. cit : [1979]119itr996(sc) . as against this, shri tankha, learned counsel for the revenue, has invited our attention to cit v. a roman and co. : [1968]67itr11(sc) ; indian and eastern newspaper society v. cit : [1979]119itr996(sc) ; claggett brachi co. ltd. v. cit : [1989]177itr409(sc) and phool chand bajrang lal v .....
Tag this Judgment!Court : Supreme Court of India
Decided on : Jan-04-1996
Reported in : AIR1996SC929; JT1996(1)SC38; 1995(1)SCALE6; (1996)1SCC753; [1996]1SCR89; 1996(1)LC404(SC)
..... of funds for blood banking purposes the government of india in the ministry of finance should, at the earliest, be approached by the ministry of health to secure special dispensation under section 35 of the income tax act, making it possible to grant exemption of 100 per cent basis to the ..... national council on blood transfusion should be established. it should consist of director general of health services. drug controller of india, representative of ministry of finance, high-level representatives of indian red cross society and selected five major medical and health institutions of the country, and three eminent citizens, presided ..... territory which shall be registered as a society under the societies registration act. the state council should be a representative body having in it representation from directorate of health services in the state, state drug controller, department of finance of the state government/union territory administration, important medical institutions in the .....
Tag this Judgment!Court : Supreme Court of India
Decided on : Jan-04-1996
Reported in : 1996IAD(SC)774; AIR1996SC646; [1996]85CompCas920(SC); JT1996(1)SC8; 1996(1)SCALE13; (1996)1SCC642; [1996]1SCR58
..... bank of india v. peerless general finance & investment co. ltd. : [1987]2scr1 , (hereinafter referred to as 'peerless i'). the court, after examining the various schemes offered by peerless, held that the said schemes were not covered by the expression 'prize chits' as defined in section 2(e) of the said act. while upholding the decision of ..... deposits, including rates of interest payable on such deposits; and the periods for which deposits may be received. this latter power flows from sub-section (3) of section 45k of the act. the bank under this provision can give directions in respect of any matters relating to or connected with the receipt of deposits (emphasis added). ..... 4a. shri salve has disputed the said claim of peerless about its performance and has invited our attention to the report of inspection conducted under section 45-n of the act with respect to the financial position of the company as on march 31, 1993, which refers to violation of various provisions of 1987 directions. .....
Tag this Judgment!Court : Madhya Pradesh
Decided on : Jan-04-1996
Reported in : AIR1996MP233
..... with the conduct and reputation of the appellant without giving the appellant an opportunity of being heard in the inquiry should be taken to be vitiated for violation of section 8b of the act. it is true that the report of the commission of enquiry has no legal force proprio vigore. but, however, it is seen in this case that the ..... petition was disposed of by this court as per annexure a-1 directing the general officer commanding-in-chief, central command, lucknow to dispose of the appeal under section 162 of the army act within one month from the date of receipt of the appeal. it is the grievance of the petitioners that despite the order dated 24-6-92 the appeal ..... .16. in the case of n. manoharan v. state of tamil nadu, air 1981 mad 147, division bench of madras high court held relying upon section 8(b) of the commission of enquiry act, 1952 which provides that if at any stage of enquiry the commission considers it necessary to inquire into conduct of any person that the reputation of any .....
Tag this Judgment!Court : Madhya Pradesh
Decided on : Jan-05-1996
Reported in : 1996CriLJ2754
..... till tribunal passes an independent order after recording some evidence for the purpose of coming to the conclusion which is necessary to be arrived at in view of section 140 of mv act. the amount which has been deposited by the appellant in the office of tribunal be returned to him. so far as the appeal is concerned, no order ..... happens to be financer of the tractor in question can be saddled with the liability of paying interim award to the claimants in view of the provisions of section 140 of m.v. act he needs to be and stands exonerated so far as liability of paying interim compensation amount to claimants in view of section 140 of m.v. act. so far ..... m/s pamacha motor finance, the appellant for assailing the interim award which has been passed by motor accident claims tribunal neemuch on 13-1-95 by which the appellant has been directed to pay interim compensation of rs. 25,000/- to respondents 1 to 4 in view of provisions of section 140 of motor vehicles act 1988 (herein after referred .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Decided on : Jan-05-1996
Reported in : (1997)60ITD313(Mad.)
..... be retained by the promoter, it comes within the purview of transfer as provided in s. 2(47)(v) of the it act. sec. 2(47) of the it act defines transfer in relation to a capital asset. clause (v) was inserted by the finance act, 1987 w.e.f. 1st april, 1988. therefore, the provision of s. 2(47)(v) is applicable in respect of the ..... with transfer in relation to capital assets for the purpose of capital gains. sub-cl.(v) of s. 2(47) was inserted by the finance act, 1987 w.e.f. 1st april, 1988. according to the said provision, any transaction involving the allowing of the possession of any immovable property to be taken or retained in ..... retention of possession which has already been taken by the transferee. the language of s. 2(47)(v) as well as s. 53a of the transfer of property act is unambiguous and clear. sec. 2(47)(v) is applicable to the asst. yr.1988-89 and subsequent years which has no retrospective effect, as we have already seen. therefore, while the possession .....
Tag this Judgment!Court : Chennai
Decided on : Jan-05-1996
Reported in : (1997)57TTJ(Mad)418
..... be retained by the promoter, it comes within the purview of transfer as provided in s. 2(47)(v) of the it act. sec. 2(47) of the it act defines transfer in relation to a capital asset. clause (v) was inserted by the finance act, 1987 w.e.f. 1st april, 1988. therefore, the provision of s. 2(47)(v) is applicable in respect of the ..... with transfer in relation to capital assets for the purpose of capital gains. sub-cl. (v) of s. 2(47) was inserted by the finance act, 1987 w.e.f. 1st april, 1988. according to the said provision, any transaction involving the allowing of the possession of any immovable property to be taken or retained in ..... retention of possession which has already been taken by the transferee. the language of s. 2(47)(v) as well as s. 53a of the transfer of property act is unambiguous and clear. sec. 2(47)(v) is applicable to the asst. yr. 1988-89 and subsequent years which has no retrospective effect, as we have already seen. therefore, while the possession .....
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